So, who’s tired of hearing about the SGO program yet? I’m not! I love Indiana’s premiere system (the envy of other states) that allows donors to school scholarships to receive a 50% tax credit on their Indiana state taxes. And more and more donors agree with me.
The program has been accelerating over the past couple of years, to the point that Indiana donors ran out of available credits from the state in February and had to wait until July 1 to re-start their SGO support. And after 5 months of empty credit tanks, our schools are zooming ahead since July 1:
- Nearly $1,200,000 in credits, over 10% of what is available, have been taken in two weeks… this time last year, only $300,000 had been taken.
- Last year less than 200 donations had come in by 7/15; this year, over 400.
- For just the schools in the Lutheran SGO of Indiana family we have raised over $425,000, 30% of what we raised the entire year last year. In only two weeks.
Quick Quiz: what does this all mean?
- Donors want their credit and are therefore making their gifts earlier to ensure they get the SGO tax credit.
- We will probably run out of credits before December 31.
- Donors are making larger gifts than last year.
- We most likely will run out of credits before December 31.
- Donors continue to enjoy supporting scholarship and providing the chance for a quality, Christian education for families.
- We will run out of credits before December 31.
Answer: All of the above. Yes, we think the SGO Tax Credit program will run out of credits before December 31. We typically receive the bulk of our donations in December, and most of those gifts come in the last two weeks of December. If trends continue as we expect, we may be returning gifts received in December. And we hate doing that.